May 14, 2020 (SUPER MARKET RESEARCH via COMTEX) -- According to IMARC Group's latest report, the global urea market to registering a CAGR of around 3% during 2020-2025. Urea, or carbamide, is a waste product produced by various living organisms with high nitrogen content. It is a colorless organic hygroscopic solid, which is odorless and soluble in water, with a slight odor of ammonia.
The primary growth-inducing factor of the urea market is the extensive product applications in the agriculture, chemical, automotive and medical industries. In the agriculture sector, urea is used as a fertilizer and animal feed additive since it is non-toxic in nature and offers higher crop yield in lesser time. It is also utilized in the automotive industry to reduce nitrogen oxide emissions from diesel automobiles. Apart from this, premium-quality and technical-grade urea is employed for manufacturing medical drugs, explosives, dyes, disinfectants, cosmetics and yeast. Moreover, technological advancements and innovations, like the introduction of melting and granulation technologies that help in enhancing energy and cost-effectiveness of urea production, are further expected to create a positive outlook for the market in the coming years.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Urea Market 2020-2025 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include Acron (mcx:AKRN), BASF SE, BIP (Oldbury) Limited, EuroChem, Jiangsu Sanmu Group Co. Ltd., Koch Fertilizer LLC, OCI Nitrogen, Petrobras /zigman2/quotes/200745132/composite PBR +3.53% , Qatar Fertiliser Company, SABIC, Yara International ASA, etc.
The report has segmented the market on the basis of Grade, Offering, Application, End-Use Industry, and Region.
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Breakup by Grade:
Breakup by Application:
Breakup by End-Use Industry:
Breakup by Region: